Economic Trend News
- Premier: Economy to grow by 11.5%
Date: 21-Nov-2007 Sources: (People's Daily)
China's economy is expected to grow 11.5 percent this year, Premier Wen Jiabao said yesterday.
Wen, in Singapore on a four-day official visit and to attend a series of Association of Southeast Asian Nations meetings, made the forecast when meeting embassy staff and representatives of Chinese entrepreneurs and students.
China has enjoyed 9 percent year-on-year growth for 30 consecutive years while growth surpassed 10 percent in the past five years, he noted.
But he stressed that the government must prevent the economy from overheating; and make sure that structural price rises do not move toward high inflation.
'Only by achieving that can we enable the economy to grow in a stable and healthy manner,' he said.
The consumer price index reached a decade-high 6.5 percent last month, matching the peak in August, with prices of foodstuffs rising 17 percent year-on-year.
Wen also called for efforts to transform the economic development mode to emphasize efficiency.
'An important task for us is to continue our efforts in energy conservation and pollution reduction.'
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